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[DOCX File]Chapter Opener - Home
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Oligopolistic industries are characterized by the presence of few firms, each having a significant fraction of the market. Firms thus situated engage in strategic behavior and are mutually interdependent: The behavior of any one firm directly affects, and is affected by, the actions of rivals.
what characterizes a market with oligopolistic competition

[DOCX File]Loudoun County Public Schools / Overview
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49. Oligopolistic industries are characterized by: A. a few dominant firms and substantial entry barriers.B. a few dominant firms and no barriers to entry.C. a large number of firms and low entry barriers.D. a few dominant firms and low entry barriers.
an oligopolistic market is consistent with

[DOC File]mpbou.edu.in
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A market structure characterized by a large number of small firms, similar but not identical products sold by all firms, relative freedom of entry into and exit out of the industry, and extensive knowledge of prices and technology. ... Oligopolistic industries share several behavioral tendencies, including: (1) interdependence, (2) rigid prices ...
oligopolistic firms

[DOCX File]1
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Oligopolistic industries: are characterized by a relatively large number of small sellers. may produce either standardized or differentiated products. always produce differentiated products. always produce standardized products. Answer: B. As a general rule, oligopoly exists when the four-firm concentration ratio: exceeds the Herfindahl index.
in an oligopolistic market consumer choice is

[DOC File]CHAPTER OVERVIEW - Webs
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Foreign competition has made many oligopolistic industries much more competitive when viewed on a global scale. 2. Oligopolistic firms may keep prices lower in the short run to deter entry of new firms. 3. Over time, oligopolistic industries may foster more rapid product development and greater improvement of production techniques than would be ...
oligopolistic firms in smartphone operating systems

[DOCX File]ANSWERS TO END-OF-CHAPTER QUESTIONS
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2.Under competition, firms may enter and leave industries freely. 3.If shortrun losses occur, firms will leave the industry; if economic profits occur, firms will enter the industry. C.The model is one of zero economic profits, but note that this allows for a normal profit to be made by each firm in the long run.
oligopolistic firms engage in collusion to

[DOC File]CHAPTER OVERVIEW - Crawford
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Contrast the two market structures in terms of productive and allocative efficiency. Explain: “Monopolistically competitive industries are characterized by too many firms, each of which produces too little.” The monopolistic competitor’s demand curve is less elastic than a pure competitor and more elastic than a pure monopolist.
oligopolistic firms can either collude or compete

[DOC File]Model Answer – Economics HL Paper 1 Question 1
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Model Answer – May 2007 Economics HL Paper 1 Question 1 . a) Explain how barriers to entry may affect market structure. [10 marks] Barriers to entry are obstacles that make it difficult, costly or even impossible for new firms to enter an industry.
firms in oligopolistic markets

[DOC File]Test Bank New | Test Bank & Solution Manual
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Explanation: A major factor discouraging new competitors in current oligopolistic industries such as automobiles and large commercial aircraft is the huge capital investment that would be needed to start a new company. Page Ref: 15. ... In a market characterized by monopolistic competition, individual firms have some control over price. E) In a ...
what characterizes a market with oligopolistic competition

Oligopolistic industries are characterized by